Bitcoin fees are too low! | Bitcointalksearch.org

Sithara007

legendary

Activity: 3164

Merit: 1344

Leading Crypto Sports Betting & Casino Platform

Quote from: Aveatrex on September 05, 2017, 04:27:37 PM

Here's the proof dude:

Unbelievable. Bitcoin was supposed to me a more affordable option when compared to Visa, PayPal and Western Union. Now Bitcoin is charging as much as 30 times the standard fees of PayPal. I don't know whether this can go on forever or not.

AGD

legendary

Activity: 2069

Merit: 1164

Keeper of the Private Key

Quote from: Aveatrex on September 05, 2017, 04:27:37 PM

Quote from: AGD on August 30, 2017, 09:34:08 AM

Quote from: hich_ang on August 30, 2017, 08:53:32 AM

Transaction fees are getting bigger and bigger. I don't see where bitcoin fees are low.

proof?

Here's the proof dude:

The fees are too high.Do you imagine 10-15$ per transaction buddy?
The miners doesn't need fees anyways,the block reward is already decent.

Hopefully that now when SegWit take fully effect,transaction fees get snowballed soon.Just to say that 20 sat/byte is not the fees you think we spend at the moment.

This is a Xapo issue and not Bitcoin, therefore absolute rubbish. If Xapo decides to rip off their customers it is not Bitcoins fault.

Check my test transaction yesterday with 2.5 sat/b, which got confirmed in 20 minutes.

https://blockchain.info/tx/3f7832c09687497feef130c6a271c8dda9b5e74d5c8f558ad07428c98273dac7

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: Aveatrex on September 05, 2017, 04:27:37 PM

Hopefully that now when SegWit take fully effect,transaction fees get snowballed soon.

If people start utilizing Segwit, then theoretically the fees should be going down, but we still don't know its actual effect yet. If we look at Litecoin, which has Segwit activated for three months now, it's obviously clear that people for a major part are still transacting in a non Segwit manner. People themselves need to make the shift, and as long as that isn't happening, Segwit won't have much of an impact. That being said, even with Segwit activated and being fully utilized by people, if a spammer thinks it can justify throwing loads of money on the table to choke the network with rubbish transactions, we'll still be dealing with full blocks - the only difference is that with Segwit fully utilized it will cost whatever entity more to reach the same effect. If we look at the malicious entities behind Bitcoin Cash, and then mainly their wealth, they could easily do so.

Aveatrex

sr. member

Activity: 840

Merit: 375

Quote from: AGD on August 30, 2017, 09:34:08 AM

Quote from: hich_ang on August 30, 2017, 08:53:32 AM

Transaction fees are getting bigger and bigger. I don't see where bitcoin fees are low.

proof?

Here's the proof dude:

The fees are too high.Do you imagine 10-15$ per transaction buddy?
The miners doesn't need fees anyways,the block reward is already decent.

Hopefully that now when SegWit take fully effect,transaction fees get snowballed soon.Just to say that 20 sat/byte is not the fees you think we spend at the moment.

lady Royal

hero member

Activity: 720

Merit: 500

Right now, by seeing the price of Bitcoin we are paying 20sats or 50 sats are enough because the price per satoshis is high so, we don't have to pay higher fee? what do you say?
when the block reward will drop to 1BTC or 2BTC then they should increase the fees.

Best Dreams

full member

Activity: 1008

Merit: 101

Quote from: tristan1960 on September 03, 2017, 07:17:51 PM

Quote from: AGD on August 30, 2017, 09:36:58 AM

Quote from: hich_ang on August 30, 2017, 08:53:32 AM

Transaction fees are getting bigger and bigger. I don't see where bitcoin fees are low.

Do you think 20sat/b is high???

Who pays 20sat/byte? I've never paid less than 80 sat/byte so far within last 4 months. Sometimes I pad more than 200satoshi per byte? If you're a miner, you're a bad miner, if you're just messing around it, this is not cool.

Bitcoin obviously has high fee and low speed problems at the moment.

Yes but some people said bitcoin fees is very low but some people are said that is good fees I think Bitcoin fees are too high and
it's good job and very easy.

Kevondo

sr. member

Activity: 742

Merit: 251

Quote from: ornabldo on September 04, 2017, 07:50:56 AM

Currently it can be as high as 0.0005 according to recommended values even for a ~260 bytes one input one output payment, it's not incredibly high but considering the high price for bitcoin this 0.0005 can easily equal a decent amount of $, and this is for a regular tx not one of those 1-2 KB tx's.

yes it is very good and easy for the bitcoin users that they will use the low fees such as one of my friend told me in the morning that the bitcoin is now charging very low fees it has reduced a lot and has become 0.005 with each single transaction and it does not take much time as in the past it was happening now the fees of the bitcoin has reduced and it made bitcoin go more higher than before.

AGD

legendary

Activity: 2069

Merit: 1164

Keeper of the Private Key

Quote from: ornabldo on September 04, 2017, 07:50:56 AM

Currently it can be as high as 0.0005 according to recommended values even for a ~260 bytes one input one output payment, it's not incredibly high but considering the high price for bitcoin this 0.0005 can easily equal a decent amount of $, and this is for a regular tx not one of those 1-2 KB tx's.

https://blockchain.info/de/unconfirmed-transactions
Fees are even lower now.

ornabldo

member

Activity: 99

Merit: 10

Currently it can be as high as 0.0005 according to recommended values even for a ~260 bytes one input one output payment, it's not incredibly high but considering the high price for bitcoin this 0.0005 can easily equal a decent amount of $, and this is for a regular tx not one of those 1-2 KB tx's.

AGD

legendary

Activity: 2069

Merit: 1164

Keeper of the Private Key

Quote from: ObscurePen on September 04, 2017, 05:32:31 AM

What do you mean 20 satoshi per byte? Are you paying that much for a transaction? At the moment BitcoinFees21 says that the cheapest and most fastest transaction can be achieved by paying at least 300 satoshi per byte. And you are paying 20 satoshi per byte? HOW!?

I had to pay 2 dollars for a 6 dollar transaction. I have no idea how much satoshi that is per byte, but it is at least above 500 satoshi per byte. And to be honest, I wouldn’t mind a transaction fee of 20 satoshi per byte. In fact I would dream of that. Such a rate consistently would be amazing and it will really help Bitcoin earn more reputation. Consistently is a key word. I paid in the morning a transaction with a rate of 5 satoshi per byte, but I mostly pay rates of around 200 satoshi per byte.

Quote from: tristan1960 on September 03, 2017, 07:17:51 PM

Quote from: AGD on August 30, 2017, 09:36:58 AM

Quote from: hich_ang on August 30, 2017, 08:53:32 AM

Transaction fees are getting bigger and bigger. I don't see where bitcoin fees are low.

Do you think 20sat/b is high???

Who pays 20sat/byte? I've never paid less than 80 sat/byte so far within last 4 months. Sometimes I pad more than 200satoshi per byte? If you're a miner, you're a bad miner, if you're just messing around it, this is not cool.

Bitcoin obviously has high fee and low speed problems at the moment.

https://www.blocktrail.com/BTC/tx/a187058b70fde11c2efcebe29e6e0f13d9f2bf049d76cb6d3cacfe80879a413f

ObscurePen

sr. member

Activity: 385

Merit: 266

What do you mean 20 satoshi per byte? Are you paying that much for a transaction? At the moment BitcoinFees21 says that the cheapest and most fastest transaction can be achieved by paying at least 300 satoshi per byte. And you are paying 20 satoshi per byte? HOW!?

I had to pay 2 dollars for a 6 dollar transaction. I have no idea how much satoshi that is per byte, but it is at least above 500 satoshi per byte. And to be honest, I wouldn’t mind a transaction fee of 20 satoshi per byte. In fact I would dream of that. Such a rate consistently would be amazing and it will really help Bitcoin earn more reputation. Consistently is a key word. I paid in the morning a transaction with a rate of 5 satoshi per byte, but I mostly pay rates of around 200 satoshi per byte.

tristan1960

full member

Activity: 217

Merit: 100

Quote from: AGD on August 30, 2017, 09:36:58 AM

Quote from: hich_ang on August 30, 2017, 08:53:32 AM

Transaction fees are getting bigger and bigger. I don't see where bitcoin fees are low.

Do you think 20sat/b is high???

Who pays 20sat/byte? I've never paid less than 80 sat/byte so far within last 4 months. Sometimes I pad more than 200satoshi per byte? If you're a miner, you're a bad miner, if you're just messing around it, this is not cool.

Bitcoin obviously has high fee and low speed problems at the moment.

miguelmorales85

hero member

Activity: 544

Merit: 506

what you all think about the fees nowadays?
Without all the spam the fee are really low but dont worry you can set the TX fee to 0.001 to feed all those POORS miners.. Roll Eyes

SimonJones

sr. member

Activity: 485

Merit: 250

Fees are high for low value transactions and low for high value transactions. So it depends on how you see it.

Boseda

sr. member

Activity: 448

Merit: 250

Quote from: AGD on August 31, 2017, 02:54:39 AM

Quote from: ?? on ??

Quote from: hich_ang on August 30, 2017, 08:53:32 AM

Transaction fees are getting bigger and bigger. I don't see where bitcoin fees are low.

What would YOU call 20sat/b? High or Low?

It may be high or low. It depends on various factors: how much you need to spend, how many bytes the transaction is and how fast you wanna to get confirmations. If you large amounts of inputs, wanna make a micro-payment, well, that's definitely too high.

iluvpie60

hero member

Activity: 700

Merit: 500

Quote from: grermezter on August 30, 2017, 10:14:22 AM

Quote from: AGD on August 30, 2017, 08:00:48 AM

Have a heart for the poor miners.

edit 20sat/b is way too low.

One cannot deny that the transaction fees have greatly reduced since yesterday and has reverted back to about $0.30 per each transaction and surprisingly it takes about 15 to 20 minutes for the transaction to be confirmed which was quicker than when we paid high fees in the past.

A good website to see the price for transactions and what is happening in the mempool https://jochen-hoenicke.de/queue/#24h

It shows how many unconfirmed transactions, the price people are paying in fee.

Right now it spiked, but over the last few days/week the price has been so cheap that fees of like 20 cents and 30 cents are going through.

Now is a good time to move some bitcoin around and or spend it!:)

Casdinyard

hero member

Activity: 2058

Merit: 882

Leading Crypto Sports Betting and Casino Platform

Quote from: miguelmorales85 on August 30, 2017, 03:23:00 PM

I dont want to point fingers but.. it is a funny post or sarcastic?
fee's arent low but that is my opinion.
I would love to see them low AF once the segwit networks gets mainstream

Yeah like Im just confused with the low fee as now we are experiencing high fee.
Like what is all about? Actually we all want low fee like before but as the price is increasing the fee is also increasing and this is the reality. Oh I would love to see this but this will be all just a dream. Hope soon with the help of segwit the block will increase as the fee gets low.

AGD

legendary

Activity: 2069

Merit: 1164

Keeper of the Private Key

Quote from: Pursuer on August 31, 2017, 03:59:23 AM

Quote from: xypos on August 31, 2017, 03:49:39 AM

Quote from: AGD on August 30, 2017, 08:00:48 AM

Have a heart for the poor miners.

edit 20sat/b is way too low.

20 sats/byte is probably too low, but has it reached that stage yet? No.

I still have to pay close to 450 sats/byte on my transasction and it has only increased over the past few days, with no signs of slowing down honestly. IF the transaction fee was at 20 sats/byte and the block reward has halved then miners would probably be disincentivized, but right now miners are making bank off tx fees.

Not sure what you are trying to get at here, honestly.

it seems like OP is mostly trolling. fees are not 20 and they are not 450 either. it is somewhere in between most of the time around 120 s/b to get a high priority (get a confirmation within next couple of blocks) and during the times when mempool goes towards the moon it becomes more expensive temporarily.
of course 20 s/B or even 1-2 s/B transactions can also be confirmed but you can't rely on that specially if you want to get the coins fast like when depositing to an exchange to make a trade, you can't wait half a day or longer!

There might be a little trolling and clickbait in my title, but I think it's the accurate answer to all the 'Fees are too high' shills.

AGD

legendary

Activity: 2069

Merit: 1164

Keeper of the Private Key

Quote from: xypos on August 31, 2017, 03:49:39 AM

Quote from: AGD on August 30, 2017, 08:00:48 AM

Have a heart for the poor miners.

edit 20sat/b is way too low.

20 sats/byte is probably too low, but has it reached that stage yet? No.

I still have to pay close to 450 sats/byte on my transasction and it has only increased over the past few days, with no signs of slowing down honestly. IF the transaction fee was at 20 sats/byte and the block reward has halved then miners would probably be disincentivized, but right now miners are making bank off tx fees.

Not sure what you are trying to get at here, honestly.

You can send any amount for a 20sat/b and it will get confirmed. If you pay more, it's not Bitcoins fault, but mostly the wrong wallet, that forces you to pay more.

Adbitco

hero member

Activity: 1428

Merit: 653

Always Act Smart and Play Safe With Your Funds

Quote from: Netnox on August 30, 2017, 09:39:28 AM

Quote from: AGD on August 30, 2017, 08:00:48 AM

Have a heart for the poor miners.

edit 20sat/b is way too low.

These "poor" miners are getting BTC12.5 as the block reward right now. They don't need revenues from transactions. When the block reward becomes less than BTC1.00, we can consider rising the fee. Until then, we need to keep the fee low, so that more people will use Bitcoin rather than any of these altcoins.

If miners are poor then we are the poorest so yes miners should have a heart for us instead.

Topic: Bitcoin fees are too low! (Read 1869 times)